ACADIA Pharmaceuticals Prices Public Offering of Common Stock
September 17 2019 - 11:00PM
Business Wire
ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD), a biopharmaceutical
company focused on the development and commercialization of
innovative medicines to address unmet medical needs in central
nervous system (CNS) disorders, today announced the pricing of an
underwritten public offering of 6,250,000 shares of its common
stock, offered at a price to the public of $40.00 per share. The
gross proceeds from this offering to ACADIA are expected to be
approximately $250 million, before deducting underwriting discounts
and commissions and other estimated offering expenses payable by
ACADIA. ACADIA has granted the underwriters a 30-day option to
purchase up to an aggregate of 937,500 additional shares of common
stock. The offering is expected to close on September 20, 2019,
subject to customary closing conditions.
BofA Merrill Lynch and J.P. Morgan Securities LLC are acting as
the joint book-running managers for the offering. Cowen and SVB
Leerink are acting as co-lead managers and Cantor Fitzgerald &
Co., Canaccord Genuity, JMP Securities and Needham & Company
are acting as co-managers for the offering.
The shares of common stock described above are being offered by
ACADIA pursuant to a shelf registration statement filed by ACADIA
with the Securities and Exchange Commission (SEC) that became
automatically effective on November 26, 2018. A preliminary
prospectus supplement related to the offering was filed with the
SEC and is available on the SEC’s website located at
http://www.sec.gov. Copies of the final prospectus supplement and
the accompanying prospectus related to this offering, when
available, may be obtained from BofA Merrill Lynch, NC1-004-03-43,
200 North College Street, 3rd Floor, Charlotte, NC 28255-0001,
Attn: Prospectus Department, Email:
dg.prospectus_requests@baml.com, or from J.P. Morgan Securities
LLC, Attention: Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by
email to: prospectus-eq_fi@jpmchase.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About ACADIA Pharmaceuticals
ACADIA is a biopharmaceutical company focused on the development
and commercialization of innovative medicines to address unmet
medical needs in central nervous system disorders. ACADIA has
developed and commercialized the first and only medicine approved
for the treatment of hallucinations and delusions associated with
Parkinson’s disease psychosis. ACADIA also has ongoing clinical
development efforts in additional areas with significant unmet
need, including dementia-related psychosis, major depressive
disorder, the negative symptoms of schizophrenia, and Rett
syndrome.
Forward-Looking Statements
Statements in this press release that are not strictly
historical in nature are forward-looking statements. These
statements include but are not limited to statements related to the
expected proceeds and timing of the offering of common stock by
ACADIA. These statements are only predictions based on current
information and expectations and involve a number of risks and
uncertainties. Actual events or results may differ materially from
those projected in any of such statements due to various factors,
including market risks and uncertainties and the satisfaction of
customary closing conditions for an offering of securities. For a
discussion of these and other factors, please refer to ACADIA’s
annual report on Form 10-K for the year ended December 31, 2018 as
well as ACADIA’s subsequent filings with the SEC. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. This caution is made under
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All forward-looking statements are qualified in
their entirety by this cautionary statement and ACADIA undertakes
no obligation to revise or update this press release to reflect
events or circumstances after the date hereof, except as required
by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190917006209/en/
Investor Contact: ACADIA Pharmaceuticals Inc. Mark Johnson, CFA
(858) 261-2771 ir@acadia-pharm.com
Media Contact: ACADIA Pharmaceuticals Inc. Maurissa Messier
(858) 768-6068 media@acadia-pharm.com
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